The post SOL Bounces at $200 Support, Could $260 Be the Next Stop? appeared on BitcoinEthereumNews.com. Key Insights: Solana defends $200 level, supported by Fibonacci and VWAP, with traders eyeing $260 as next resistance. Futures open interest reset signals reduced leverage, creating a cleaner market setup for potential upside. ETF speculation in mid-October fuels projections of a longer-term rally toward $300 and $400 levels. SOL Bounces at $200 Support, Could $260 Be the Next Stop? Solana (SOL) was trading at $201.97 with a 24-hour volume of $3.46 billion. The token is showing a small daily gain of 0.03%, while its price has fallen by 16% over the past week. The current trading range has placed SOL back near the $200 psychological support, a level that traders consider crucial. Market participants are watching this zone closely to assess whether it can continue to act as a base for recovery. Technical Levels The $200 mark is supported by Fibonacci confluence and VWAP positioning, which strengthens its role as a defense level. Price action shows repeated tests of this zone, with buyers stepping in to keep the structure intact. Futures data also shows a sharp reset in open interest after steady growth through August and early September.  One analyst noted, “with leverage cleared, the market structure is cleaner for potential upside.” Source: CryptoRus/X Possible Upside Scenarios If the $200 floor holds, the next resistance is expected near $260, an area tested earlier this month. This zone is viewed as the next key target should momentum increase. On shorter charts, a bull pennant pattern has formed, marked by converging trendlines following a strong rally.  Market commentary suggests,  “a move above $205 could open the way to $215–$220 in the short term.” Broader Context Expectations of a Solana ETF approval in mid-October have also drawn attention. Projections based on this scenario point to a possible climb toward $400 in the longer… The post SOL Bounces at $200 Support, Could $260 Be the Next Stop? appeared on BitcoinEthereumNews.com. Key Insights: Solana defends $200 level, supported by Fibonacci and VWAP, with traders eyeing $260 as next resistance. Futures open interest reset signals reduced leverage, creating a cleaner market setup for potential upside. ETF speculation in mid-October fuels projections of a longer-term rally toward $300 and $400 levels. SOL Bounces at $200 Support, Could $260 Be the Next Stop? Solana (SOL) was trading at $201.97 with a 24-hour volume of $3.46 billion. The token is showing a small daily gain of 0.03%, while its price has fallen by 16% over the past week. The current trading range has placed SOL back near the $200 psychological support, a level that traders consider crucial. Market participants are watching this zone closely to assess whether it can continue to act as a base for recovery. Technical Levels The $200 mark is supported by Fibonacci confluence and VWAP positioning, which strengthens its role as a defense level. Price action shows repeated tests of this zone, with buyers stepping in to keep the structure intact. Futures data also shows a sharp reset in open interest after steady growth through August and early September.  One analyst noted, “with leverage cleared, the market structure is cleaner for potential upside.” Source: CryptoRus/X Possible Upside Scenarios If the $200 floor holds, the next resistance is expected near $260, an area tested earlier this month. This zone is viewed as the next key target should momentum increase. On shorter charts, a bull pennant pattern has formed, marked by converging trendlines following a strong rally.  Market commentary suggests,  “a move above $205 could open the way to $215–$220 in the short term.” Broader Context Expectations of a Solana ETF approval in mid-October have also drawn attention. Projections based on this scenario point to a possible climb toward $400 in the longer…